Mintel has published seven trends that will impact global consumer markets in 2021.
"As experts in what consumers want and why, Mintel is uniquely suited to predict the future of consumer behavior and what that means for brands," said Simon Moriarty, Director of Mintel Trends, EMEA.
Mr Moriarty comments on consumer behavior, market shifts, innovative brands, and opportunities for companies and brands to trade over the next 12 months:
- Health undefined. "… The opportunity for brands is to not only sell a feel-good product or service to consumers, but also to remind them of the value of their own internal curiosity and the ability to try something new."
- Collective empowerment. “The collective mentality of the pandemic motivated a community-oriented mindset among consumers – even in traditionally individualistic cultures – that has placed mutual support and advocacy at the forefront of various consumer behaviors. The rise of the Black Lives Matter movement and the global climate strike show people gathering to call for positive change.
"Brands have the opportunity to take a leadership role in solving these problems and they could run the risk of being viewed as an obstacle if they don't."
Priority shift. Consumers are stepping back and analyzing their spending habits due to the financial crisis in 2020. “In this search for things that are important to them, consumers are not only looking for affordability and convenience, but also for the safety, protection and durability of goods .
Priority shift. Consumers are stepping back and analyzing their spending habits due to the financial crisis in 2020. “In this search for things that are important to them, consumers are not only looking for affordability and convenience, but also for the safety, protection and durability of goods ."Brands should take this opportunity to become agents of positive change and prove that they offer good value and tangible results."
- Getting together. We saw a strong sense of community over the past year.
"A widespread understanding that community and belonging are critical to combating loneliness provides brands with an opportunity to celebrate consumer identity and offer new opportunities for mutual support."
- Virtual life. Innovations in technology had to reach a higher level due to the need for locks.
"The rapidly growing popularity of games and esports gives brands in multiple markets the ability to either collaborate and create collectibles in-game, create their own games, or combine products for gaming sessions."
- Sustainable spaces. Consumers are demanding more transparency from brands when it comes to sustainable practices.
“… Brands have the ability to proactively innovate products and services that help them deal with the cumulative effects of everyday life – from focusing on locality and supporting communities to inciting consumers to incrementally better habits to deal with combine great effect. "
- Digital dilemmas. Technology plays an important role when it comes to providing solutions in uncertain times.
"As a result, brands are encouraged to innovate digital capabilities in anticipation of consumer needs, and most importantly, expertly bridge the gap between the online and offline worlds for a more reliable and consistent experience."
To view Food & Drinks trends for 2021, click here or visit mintel.com to learn more about their dates.
